3: Adjusting the Standard Model to Meet the Challenge of the Green Transition

The transition towards a green economy in Europe is one of the most ambitious projects ever undertaken by the European Union. Specifically, the European Green Deal marks an important step in the EU’s efforts to meaningfully confront climate change. Non-European Union (EU) countries in Europe are also bound by the Paris Agreement climate change commitments, but unlike EU Member States, they have fewer financial resources at their disposal to implement the changes required in the energy and transport sectors. This could result in several non-EU European countries falling behind the targets set by the EU for its Member States.

The EU Green Deal increased the EU’s 2030 greenhouse gas (GHG) emissions reduction target from 40% to at least 55% below 1990 levels, setting a target of climate neutrality by the middle of the century. Last year, the European Commission presented its ‘Fit for 55’ package, which contains a series of policy proposals for meeting the 2030 target.